Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 6 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and Equipment Acquisitions
The Company made capital expenditures as follows (in thousands):
Three Months Ended September 30, Six Months Ended September 30,
  2021 2020 2021 2020
Number of aircraft delivered(1)
1  —  1  — 
Capital expenditures:
Aircraft and equipment $ 13,710  $ 4,291  $ 15,960  $ 7,048 
Land and buildings 628  232  1,346  324 
Total capital expenditures $ 14,338  $ 4,523  $ 17,306  $ 7,372 
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(1)Previously leased S92 heavy helicopter acquired during the three months ended September 30, 2021 pursuant to a contractual obligation in the lease.
Property and Equipment Dispositions
The following table presents details on the aircraft sold or disposed of (in thousands, except for number of aircraft):
Three Months Ended September 30, Six Months Ended September 30,
2021 2020 2021 2020
Number of aircraft sold or disposed of 6  31  9  32 
Proceeds from sale or disposal of assets $ 3,188  $ 40,475  $ 13,809  $ 52,140 
Deposits on assets held for sale $ —  $ 3,437  $ —  $ 3,437 
Gain (loss) on disposal of assets $ 162  $ (8,473) $ 661  $ (2,951)
Property, Equipment and Inventory Considerations
During the three and six months ended September 30, 2021, the Company recognized a $2.9 million and $8.8 million loss on impairment, respectively, in connection with H225 helicopter parts inventory and aircraft held for sale to reflect the aircraft at expected sales values. During the three and six months ended September 30, 2020, the Company recognized a $12.4 million loss on impairment related to certain equipment and inventory items in connection to the sale of aircraft